Texas job market continues to show steady improvement
When the numbers were crunched from Texas employment statistics for the month of July, the result was another positive trend in favor of the Lone Star State.
“Texas continued to enjoy job growth with the addition of 19,600 jobs added in July including 293,400 jobs over the year,” said Andres Alcantar, chairman of the TWC.
The Texas unemployment rate fell to 4.3 percent in July, down from 4.6 percent in June.
“Employers in our dynamic industries draw from a talented workforce and succeed in the Texas economy, creating a broad range of jobs that offer wonderful career opportunities for students in our state.”
Texas’ seasonally adjusted unemployment rate matches that of the nation as a whole, which is an improvement for the state following a few unusual months in which Texas actually surpassed the national average. When not seasonally adjusted, Texas actuallyc omes out ahead by threetenths of a point (4.3 versus 4.6 percent).
The Civilian Labor Force (CLF) declined by 28,900 over the month from June, bringing the total to 13,433,400. That total is an increase of 76,600 over the CLF at this time in 2016.
“Businesses in the Leisure and Hospitality Industry expanded their payrolls by 7,000 positions, which was the largest increase this month,” Alcantar added. “Financial Activities expanded by 5,200 jobs, and Professional and Business Services saw an increase of 5,000 jobs.”
Trade, Transportation and Utilities was another area of interest. Having experienced difficulties in recent months, the industry saw much-welcomed increase of 3,000 new positions last month. Currently, the industry is running at an annual growth rate of 0.7 percent, having a 12-month increase of 17,500 positions over July 2016.
On the down side, four industries saw declines in the month of July. This highest of these falls under the heading of “Other Services,” which decreased by 1,500 positions.
Information co ntinuestotake a hit in Texas. The industry lost another 1,200 jobs in July, a downward trend it has been on for some time. Having shed more than 9,400 jobs since this time last year, it currently runs at a negative 4.6 percent growth rate. The one positive n oteisthatitis the only industry in the state that is still in a negative annual growth rate.